H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Foctors Affecting Bonk Reserves and Condition Statement of F.IL Banks H.4.1 "" For immediate release June 30, 1966 The average of daily figures of total member bank reserves held during the week ended June 29 increased $186 million to $22,906 million. Estimated currency and coin of member banks increased $110 million and their reserve balances at the Federal Reserve Banks increased $76 million. Estimated required reserves increased $53 million; and estimated excess reserves increased $133 million to $^-21 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $350 million, compared with the revised net borrowed figure of $^03 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $267 million in U. S. Government securities bought outright, $80 million in member bank borrowings, and $1*8 million in acceptances held under repurchase agreements, and decreases of $76 million in currency in circulation and $27 million in "other" F. R. accounts (net). The principal off setting changes were decreases of $275 million in Federal Reserve float and $73 million in gold stock, and increases of $56 million in Treasury deposits with Federal Reserve Banks and $2^ million in Treasury cash holdings. Total Reserve Bank credit increased $118 million. As of Wednesday, June 29, holdings of U. S. Government securities bought outright were $337 million higher than a week earlier and member bank borrowings were $188 million lower. Outright holdings of bills, certificates, notes, and bonds increased $232 million, $3 million, $73 million, and $29 million, respectively. Averages of dailv figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 29, June 22, June 30, June 29, and related items 1966 1966 1965 1966. (in m]L llions of dc) llars) Reserve Bank credit: U. S. Government securities— Bought outright--System account ^1,795 +267 +3,055 in, 806 Held under repurchase agreements -- -- - 130 1 -.. Acceptances— Bought outright 81 - 2 + 4o 81 Held under repurchase agreements 151 + 48 + 138 ]>7 Discounts and advances-- Member bank borrowings 771 + 80 + 285 621 Other 5 - 1 9 5 Float 1,979 -275 + 301 1,654 Total Reserve Bank credit 44,783 +118 +3,681 44,3l4 Gold stock 13,432 - 73 - 795 l3,+34 Treasury currency outstanding 5,933 + 2 + 520 5,963 64,i48 + 47 +3,4c6 63,711 Currency in circulation 42,251 - 76 +2,738 42,48o Treasury cash holdings 1,076 + 24 + 299 1,C86 Treasury deposits with F. R. Banks 855 + 56 + 52 1 825 Foreign deposits with F. R. Banks 152 - 3 - 10 1 132 Other deposits with F. R. Banks 390 - 4 + 2C6 397 Other F. R. accounts (net) 472 - 27 - 610 463 45,196 - 29 +2,675 45,383 Member bank reserves: With Federal Reserve Banks 18,952 + 76 + 731 18,328 Currency and coin (estimated) 3,954 +110 + 282 4,337 Total reserves held 22,906 +186 +1,013 22,665 Required reserves (estimated) 22,485 + 53 + 930 22,591 Excess reserves (estimated) 421 +133 + 83 74 Cn June 29, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,651 million, a decrease of $106 million for the week and an increase of $52 million from the comparable date a year ago* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(a) CONSCUDAiED STATEMENT OF CONDITION OF THE TWELVE,FEDERAL RESERVE BANKS (In millions of dollars) Change since June 29, June 22,, June 30, 1966 1966 1965 A S S E TS - Gold certificate account 11,203 - 12 - «50 Redemption fund for F. R. notes !>770 + 9 +—122 Total gold certificate reserves # 12,973 - 3 Cash (805) 257 + 7 + 139 Discounts and advances 626 "" ^ Acceptances: ^ n Bought outright p T „ Held under repurchase agreements ^ ' U. S. Government securities: B QB m s °U t r i S h t" io', 06 + 232 +2,308 Certificates 15 + J* + l^A Notes 25.309 + 73 " ^28 Bonds 6.U13 H- 29 +1,029. Total bought outright ^ 8 oS 337 +2/gjj + Held under repurchase agreements , —-^ r^r \ x > 7ri Total U.S. Government securities ^ g* 1-331 ^ 7 06 Total loans anaTie^TritieT ^6 6° + 153 +">65° Cash items in process of collection (1,726) 6,80k -1,^63 + 763 Bank premises 10^ + . £ -, 17 Other assets 1/ 908 + |*8 + 1^1 TOTAL ASSETS (2,53l) 63,706 -1,257 ±3^198 L I A B I L I T I ES ,„ . ,., ol.no FederarRiserve~notes~ ~ (8°5) 37,399 *• ifr +2,»«92 Deposits: 18,328 - 723 + 99 Member bank reserves 825 + 657 + 153 U. S. Treasurer—general account 132 - 15 - 47 Foreign 397 k + 199 Other 2/ 19,682 - 85 + kok Total deposits Deferred availability cash items (1,726) 5,150 -l,36l + 1+58 Other liabilities and accrued dividends 222 + 2 221 TOTAL LIABILITIES (2,531) 62,453 -1,290 +3, 133 C A J I T AL A C C O U N TS Capital paid in 562 _- + 21 Surplus 551 -- + 27 Other capital accounts 140 + 33 + 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,531) "63,706 -1,257 +3 ,198 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 34.0$ .1$ " 4.6$ Contingent liability on acceptances purchased for foreign correspondents 252 + 6 + 95 ** Figures in parentheses are the eliminations made in the consolidating process; . , see comparable figures on combined basis on the following pages. i/,Includes assets denominated in foreign currencies and IMF gold deposited. -/includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 29, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Governingm t securities Discounts and Changes advance2 S Acceptances Holdings during week Within 15 days 6l4 169 933 -204 16 days to 90 days 12 59 10,493 +293 91 days to 1 year *#• -- 15,090 +199 Over 1 year to 5 years -- -- 13,593 + 44 Over 5 years to 10 years — -- 1,312 + 5 Over 10 years -- — 385 — Total S2S 228 41,806 +337 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK ON JUNE 29, 1966 San Total 1 Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (in millions3 of dollars) A S S E TS Gold certificate account 11,203 855 2,301 603 916 1,030 740 2,028 393 152 412 367 1,406 Redemption fund for F. R. notes 1,770 101 426 96 145 145 103 322 64 33 68 60 207 Total gold certificate reserves 12,973 956 2,727 699 l,06l 1,175 843 2,350 457 185 480 427 1,613 F. R. notes of other Banks 805 49 184 50 69 83 85 68 37 27 39 48 66 Other cash 257 12 28 9 37 15 19 44 25 6 13 15 34 Discounts and advances 626 32 213 2 7 24 44 ill 27 63 28 52 23 Acceptances: Bought outright 81 — 81 -- -- -- " -- " -- -- -- -- Held under repurchase agreements 147 -- 147 -- — -- — -- -- -- U. S. Government securities: Bought outright— Bills ' 10,069 503 2,499 530 820 705 523 1,723 375 213 384 389 1,405 Certificates ! 15 1 3 1 1 1 1 2 1 * 1 1 2 Notes 1 25,309 i 1,266 6,280 1,332 2,©6l 1,773 1,314 4,331 942 534 965 979 3,532 Bonds ' 6,413 321 1,591 338 522 449 333 1,097 239 135 245 248 895 Total | 41,806 1 2,091 10,373 2,201 3,404 2,92b 2,171 7,153 1,557 tiU2 1,595 1,617 5,834 Held under repurchase agreements -- -- " -- -- -- - - -- " -- Total U. S. Government securities 4i,806 2,091 10,373 2,201 3,404 2,928 2,171 7,153 1,557 882 1,595 1,617 5,834 Total loans and securities 42,660 2,123 10,814 2,203 3,4ll 2,952 2,215 7,264 1,584 945 1,623 1,669 5,857 Cash items in process of collection 8,530 576 1,524 524 617 74l 702 1,419 412 262 523 4l4 816 Eank premises io4 3 9 3 5 5 20 20 8 3 8 10 10 Other assets A/ 908 35 368 4i 64 43 4i 110 26 16 31 35 98 TOTAL ASSETS 66,237 3,754 15,654 3,529 5,264 5,014 3,925 11,275 2,549 1,444 2,717 2,618 8,494 l/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JUNE 29, I966 San Total 1B oston Nev Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 38,204 2,305 8,667 2,236 3,188 3,451 2,215 6,905 1,433 718 1,446 1,227 4,413 Deposits: j Member bank reserves 18,328 770 4,992 724 1,323 767 1,012 2,910 623 424 771 902 3,110 U.S. Treasurer—general account 825 62 108 37 72 88 63 50 131 27 48 56 83 Foreign 132 7 1/ 28 8 13 7 9 20 5 3 6 8 18 Other 397 2/314 * * 2 10 1 1 1 2 1 65 Total deposits 19,682 839 5,442 769 1,408 864 1,094 2,981 76O 455 827 967 3,276 Deferred availability cash items 6,876 538 1,164 446 538 616 528 1,168 305 237 381 345 610 Other liabilities and accrued dividends 222 11 56 11 19 15 12 36 8 5 9 9 31 TOTAL LIABILITIES 64,984 3,693 15,329 3,462 5,153 4,946 3,849 11,090 2,506 1,415 2,663 2,548 8,330 CAPITAL ACCOUNTS Capital paid in 562 27 146 30 51 29 34 81 19 14 25 33 73 Surplus 551 1 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts i4o 1 7 35 7 10 11 9 25 5 2 5 5 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 66,237,. .3., .75^. 15,654 3.,.52.9. _.J L26L- 5,014 .3.925,,.1 1,275 2,5^9 1,444 ., 2,717 2,618 8,494 Contingent liability on accept ances purchased for foreign correspondents 1 252 12 2/ 66 .._.._. 13... 23 13 15_ 3A_ 9_ 6 11 __ 15. 33 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,269 2,356 3,477 3,646 2,4l6 7,324 1,536 764 1,559 1,343 4,764 Collateral for F. R. notes: Gold certificate account 1,000 500 600 816 425 1,100 315 127 225 180 735 Eligible paper 2 27 U. S. Government securities 8.400 l.QCO 2.950 2,860 2,, 025. 6,300 1,310 645 1.^50 1,180 4.^00 Total collateral 9,4co 2,402 3,550 3,676 2,450 7,toc 1,652 772 1,575 1,360 5,035 1/ After deducting $104 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 2./ After deducting $ 186 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis